Australia needs to pay for news from Google and Facebook.

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The government of Australia would unveil legislation in parliament that will make journalism a world first for Facebook and Google.

Treasurer Josh Frydenberg said a parliamentary committee would consider the legislation for the formation of the News Media Negotiating Code after it is adopted and before lawmakers vote on it next year.

The major tech companies will decide to negotiate with publishers over how much they can pay for news, Frydenberg said. A government-appointed arbitrator would rule for them if they can’t agree.

“This is a major reform, a world first, and the world is watching what happens here in Australia,” he said, speaking to reporters.

Our law would help ensure that the digital world’s rules match the physical world’s rules… And protect our media landscape in the process.

Managing Director of Facebook Australia Will Easton said the social media giant “will engage through the upcoming parliamentary process with the aim of landing on a workable framework to support Australia’s news ecosystem.”

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